Chandigarh, Jun 8 () CII members in Chandigarh today met Ambassador ofLuxembourg to India Sam Schreiner and Deputy Head of the Mission Laure Hubertyto discuss trade ties.

"Luxembourg has best policies for trade and local businesses in terms of clearances, tax free income on intellectual property, easy commute facilities and others making it easy for any business to set shop there.

"Luxembourg is also a world leader in health technologies, green environmental technologies, bio solar water cleaning etc. India and Luxembourg can establish long lasting trade partnerships," Schreiner said.

Man Mohan Singh Kohli, former Chairman, CII Chandigarh Council & Chief Executive Officer Aroma Group said, "The economic and commercial relationship between India and Luxembourg, particularly investment relationship, has grown in recent years.

"FDI flows from Luxembourg to India between April 2000 and September 2015 are about USD 1,383.82 million, making it the 16th most important investor in India."

The delegation is also looking at establishing linkages with local businesses especially in IT/ITES, Tourism & Travel, Pharmaceuticals, Life sciences, Iron & Steel, etc, a party release said.

There are many developmental initiatives which require ownership of industry whether in education, skills, health care, water conservation, sustainability, etc, wherein companies and organisations based out of Luxembourg can partner with the local industry and offer their expertise to create boundless opportunities, it said.

Both sides will explore areas of mutual business, opportunities in IT/ITeS, Travel & Tourism, Banking & Finance , Pharmaceuticals, Life sciences, Iron and Steel, the CII release added. CHS AYP ZMN AYP